Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Fiduciary Trust Co

Fiduciary Trust Co grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 22.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,013 shares of the pharmaceutical company's stock after acquiring an additional 2,183 shares during the quarter. Fiduciary Trust Co's holdings in Vertex Pharmaceuticals were worth $5,587,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of VRTX. Groesbeck Investment Management Corp NJ increased its stake in Vertex Pharmaceuticals by 1.2% during the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company's stock worth $841,000 after acquiring an additional 21 shares during the last quarter. Mutual Advisors LLC raised its holdings in Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company's stock valued at $1,751,000 after buying an additional 21 shares during the period. Institute for Wealth Management LLC. lifted its position in Vertex Pharmaceuticals by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company's stock valued at $1,681,000 after buying an additional 22 shares during the last quarter. Drive Wealth Management LLC boosted its stake in Vertex Pharmaceuticals by 2.0% during the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company's stock worth $516,000 after buying an additional 22 shares during the period. Finally, Daymark Wealth Partners LLC increased its position in shares of Vertex Pharmaceuticals by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company's stock valued at $374,000 after acquiring an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Raymond James restated a "market perform" rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Oppenheimer cut their price objective on Vertex Pharmaceuticals from $550.00 to $540.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. HC Wainwright restated a "buy" rating and set a $600.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Finally, Barclays downgraded Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and lifted their target price for the company from $472.00 to $509.00 in a research report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $504.38.

Vertex Pharmaceuticals Stock Up 0.8 %

NASDAQ:VRTX traded up $3.57 during midday trading on Friday, hitting $468.13. 770,568 shares of the company were exchanged, compared to its average volume of 1,189,915. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $347.51 and a fifty-two week high of $519.88. The company has a market capitalization of $120.56 billion, a PE ratio of -235.24 and a beta of 0.39. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $472.87 and a 200 day simple moving average of $474.48.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts' consensus estimates of $3.61 by $0.77. The business had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.67 earnings per share. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.